Matt Sacks is co-managing partner at Lightbank and founder-executive chairman of Luminary, a subscription podcast network with shows from creators like Dave Chappelle and Lena Dunham—an unusual combination of active VC and consumer media operator at scale. He focuses on bringing large, under-digitized legacy industries in the Midwest online through vertical software and marketplaces, believing that which has existed offline will exist online, while maintaining an operator mindset that emphasizes disciplined burn rates and strong unit economics over valuation cycles.